Are Airbnb rentals a good idea in Antigua (Guatemala)?

Get all the data you need about the real estate market in Antigua

Why are so many investors interested in Airbnb rentals in Antigua?

Antigua has become one of Guatemala's most attractive Airbnb markets, but the money investors can actually make is considerably less impressive than the city's popularity suggests.

AirROI's latest figures show that an average Airbnb listing in Antigua generated Q121,105 ($15,830) in annual revenue, compared with Q75,408 ($9,860) across Guatemala. That's a 61% advantage over the national average.

The appeal makes sense. Antigua has been a UNESCO World Heritage city since 1979, attracts international visitors throughout the year, and benefits from major events such as Semana Santa. Volcano excursions, Spanish-language schools, weddings, and longer cultural stays bring in different types of guests.

According to AirROI's analysis of guest reviews, approximately 81% of Antigua's Airbnb guests come from abroad. Americans account for nearly 39% of reviewed guests, followed by Guatemalans at 19%, Mexicans at 6%, and Canadians at 6%.

But buying property here has become expensive, and Airbnb competition is growing quickly. AirROI estimates that listings increased by approximately 60% in one year while average revenue per listing fell 6.5%.

The question for investors is whether Antigua's strong tourist demand can still produce enough profit to justify today's property prices.

Is tourism in Antigua still growing as fast as before?

Tourism is still bringing plenty of visitors to Antigua, but Guatemala's latest arrival figures show a sharp slowdown after several years of strong growth.

INGUAT recorded 3,361,843 international visitors to Guatemala in 2025, an increase of 10.7% from 2024. Tourism also generated an estimated $1.39 billion in foreign-exchange earnings.

Growth was much weaker during the first half of 2026. The country received 1,625,849 nonresident visitors, only 14,944 more than during the same period a year earlier. That's an increase of approximately 1%.

Those are national figures, so they cannot tell us exactly how many people spent the night in Antigua. Still, the slowdown is worth watching because the city depends heavily on foreign guests.

Local visitor figures tell a more stable story. A mobile-network analysis reported by La Hora recorded 784,305 visits to Antigua during the first five Sundays of Lent in 2026, compared with approximately 780,780 in 2025.

Foreign visits during those Sundays increased from 25,663 to 28,077, while domestic visitor numbers barely moved.

Antigua continues to attract substantial crowds, especially during important celebrations. But there's little evidence of a recent tourism boom big enough to explain the rapid growth in accommodation supply.

Are there already too many Airbnb listings in Antigua?

Antigua's Airbnb market is getting crowded quickly, and the latest numbers suggest that hosts are having to share tourist spending among far more properties.

Three rental-data providers agree on the direction, even though they measure the market differently.

AirROI recorded 2,041 active listings and approximately 60% annual growth. BNBCalc counted 2,131 Airbnb and Vrbo listings, up 14% from the previous year and 67% over two years. Airbtics reported 1,758 listings, up 44.5% annually and 87.1% over three years.

BNBCalc's two-year figures imply that its tracked inventory grew from roughly 1,276 to 2,131 listings, an increase of about 855 properties.

That's a substantial change for a relatively small historic destination.

The impact on existing hosts is less straightforward. AirROI estimates that average listing revenue declined 6.5%, while Airbtics reports a 13.8% increase in median revenue.

Those findings cannot be combined into one market-wide growth rate because the providers track different properties and use different methods.

But the competitive pressure is clear. The number of properties available to tourists has risen much faster than recent national visitor arrivals.

For new investors, buying a property and putting it online is unlikely to be enough anymore. Existing operators already offer hundreds of alternatives, from inexpensive rooms to large colonial houses.

How much does the average Airbnb in Antigua earn per year?

An Airbnb in Antigua currently brings in roughly $16,000 to $17,000 in annual gross revenue, according to the main rental-data providers.

AirROI estimates Q121,105 ($15,830) per active listing. Airbtics reports median revenue of approximately $17,000. BNBCalc's written market summary puts average earnings at Q124,000, or around $16,200.

What's interesting is how closely those three figures agree.

They also hide enormous differences between properties.

BNBCalc estimates that low-performing listings generate approximately Q38,000 annually, while high-performing properties bring in Q400,000. That means the stronger listings can earn more than ten times as much as the weaker ones.

The composition of the market partly explains this gap. AirROI counts 795 private-room listings, representing 39% of its entire Antigua sample. A rented bedroom and a six-bedroom luxury house obviously have very different earning potential.

There is another distinction worth making: these are gross booking revenues, before management, platform fees, utilities, repairs, and taxes.

For a buyer considering an entire house, we would use the market average as an initial reference and then look at revenue from properties with similar bedrooms, locations, amenities, and availability.

Data provider	Annual revenue	Occupancy	Active listings	Revenue trend
AirROI	$15,830 average	40.1%	2,041	-6.5% YoY
Airbtics	$17,000 median	57%	1,758	+13.8% YoY
BNBCalc, market summary	$16,200 average	28%	2,131	Mixed dashboard figures
Broad revenue range	$16K–$17K	Varies by provider	Around 1,800–2,100	No clear consensus

Can you trust Antigua's Airbnb occupancy numbers?

Antigua's published Airbnb occupancy rates are too inconsistent to use directly in an investment forecast without checking how each provider calculates them.

Airbtics reports 57% occupancy, AirROI 40.1%, and BNBCalc's written market summary 28%.

That difference is huge. For a property available all year, 28% occupancy would represent roughly 102 booked nights, compared with 208 nights at 57%.

Part of the disagreement comes from which properties each provider includes. Some datasets combine Airbnb with Vrbo or Booking.com. Others may count inactive listings, blocked calendars, or properties operating only part of the year differently.

BNBCalc even displays two different figures on the same market page. Its headline dashboard shows approximately 40% occupancy, while its written summary reports 28%. The annual revenue figures also differ between those sections.

There's another trap. AirROI calculates occupancy as booked nights divided by open nights, rather than necessarily using all 365 calendar days. A host who makes a property available for 200 nights and books 80 can report 40% occupancy, despite renting it for only 80 nights during the year.

We therefore wouldn't turn a market occupancy percentage into an annual revenue projection without checking the number of nights actually available.

The better evidence would be twelve months of booking records from a comparable property, including blocked dates, cleaning gaps, cancellations, and actual nightly prices.

Can an Airbnb in Antigua really charge $138 per night?

Some Airbnbs in Antigua can comfortably charge $138 per night, but that figure is too high to treat as the normal price for an ordinary small rental.

AirROI reports an average booked nightly rate of Q1,059, equivalent to approximately $138. Its median listing, however, charges only Q635, or around $83.

The large difference tells us that expensive villas and bigger properties are pulling the average upward.

AirROI's lowest-priced quarter charges Q375 or less per night, while the highest-priced 10% charge at least Q2,030.

A separate sample of live Airbnb asking prices published by Living in Guatemala in 2026 shows a similar pattern. Entire properties sleeping two guests had a median advertised price of $103, compared with $132 for homes accommodating three or four guests and $535 for properties accommodating nine or more.

Those advertised prices describe selected travel dates, whereas AirROI measures actual booked rates over a longer period. They aren't directly equivalent.

Still, both sources tell the same story about size.

A small apartment in Antigua competes in a very different price range from a large house aimed at family reunions, weddings, or groups visiting during festivals.

Using the city's average nightly rate for every property would seriously distort the financial projection.

How much does Antigua's low season hurt Airbnb income?

Antigua's low season cuts average monthly Airbnb revenue by roughly 30% compared with high season, mainly because fewer nights get booked.

AirROI's analysis of monthly revenue over two years shows average income of Q15,400 during November through April, compared with Q10,800 during the weaker months.

That's a 43% increase from low season to high season, or a 30% drop when moving in the opposite direction.

The surprising part is that nightly prices barely change.

Average rates rise from Q984 in low season to Q999 in high season, an increase of only 1.5%. Occupancy, meanwhile, jumps from 35% to 49%.

So most of the extra high-season revenue comes from filling more nights.

December typically generates around Q16,800 per active listing, compared with just Q8,980 in September. A host can therefore earn nearly twice as much in December as in September.

Airbtics also sees strong seasonality, although its methodology identifies November as the busiest month and June as the weakest.

For an investor paying a mortgage or employing full-time staff, those weaker months need to be included in the budget. A property that looks very profitable during peak tourism can produce far less cash during the rainy season.

Period	Average monthly revenue	Occupancy	Nightly rate
November–April	Q15,400	49%	Q999
July	Q13,200	39%	Q1,022
May–June, August–October	Q10,800	35%	Q984
High-season premium	+43% vs low season	+14 percentage points	+1.5%

Does Semana Santa make Airbnb owners in Antigua a fortune?

Semana Santa can create exceptional booking opportunities in Antigua, but the holiday's massive crowds don't necessarily translate into exceptional annual Airbnb profits.

Antigua's Holy Week celebrations attract visitors for religious processions, decorated streets, and elaborate carpets. UNESCO recognized Holy Week in Guatemala as Intangible Cultural Heritage in 2022.

Yet recent visitor figures show how much those crowds can change.

According to INGUAT data reported by La Hora, Antigua received approximately 1.21 million tourist visits during Holy Week in 2024, compared with 641,704 in 2025.

That's a fall of 47% in recorded visits.

The comparison concerns tourist visits rather than unique overnight guests, and the figures could be affected by differences in counting. Many visitors also come for the day and never book accommodation.

Looking directly at rental revenue gives a clearer picture.

AirROI's two-year analysis shows that March is generally among Antigua's strongest months, generating approximately Q16,300 per active listing. But December performs slightly better on average, at Q16,800.

Antigua has several important sources of demand beyond Semana Santa.

Hosts can certainly benefit from the holiday, especially when they manage pricing and minimum stays carefully. However, a purchase should make financial sense across the whole year, including months when major celebrations aren't filling the streets.

Do bigger Airbnb houses earn more money in Antigua?

Large Airbnb houses earn dramatically more revenue in Antigua, with five-bedroom-plus properties bringing in roughly four times as much as one-bedroom homes at the median.

AirROI's analysis of entire homes puts median annual revenue at Q318,000 for properties with five or more bedrooms, versus Q79,700 for one-bedroom properties.

These larger houses also charge much more per night.

A five-bedroom-plus home averages Q3,996 per booked night, compared with Q611 for a one-bedroom home. That's more than six times the nightly rate.

But larger houses don't necessarily fill more nights. Occupancy actually falls from 48% for one-bedroom homes to 39% for houses with five or more bedrooms.

The revenue advantage comes overwhelmingly from higher prices rather than stronger occupancy.

AirROI's highest-grossing listings illustrate what the premium end of the market can achieve. Hacienda Belen - Luxury, a nine-bedroom property, generated an estimated Q2.56 million annually. Other leading listings accommodate large groups in seven-bedroom and ten-bedroom houses.

These properties are unusual, and their operating costs can be substantial. Staffing, pools, gardens, multiple bathrooms, and frequent group turnovers all cost money.

We also noticed that four-bedroom homes have lower median revenue than three-bedroom homes in AirROI's sample. Bigger isn't always better at every step.

For investors, the important comparison is how much additional revenue an extra bedroom produces relative to the additional purchase price.

Entire-home size	Listings analyzed	Median annual revenue	Average nightly rate	Occupancy
1 bedroom	367	Q79,700	Q611	48%
2 bedrooms	288	Q117,000	Q987	45%
3 bedrooms	269	Q153,000	Q1,500	41%
4 bedrooms	142	Q146,000	Q2,060	36%
5+ bedrooms	121	Q318,000	Q3,996	39%

Does adding a swimming pool really increase Airbnb profits in Antigua?

Airbnb properties with pools earn considerably more in Antigua, but the available numbers don't prove that installing a pool will pay for itself.

AirROI estimates that listings with a pool generate approximately Q247,000 annually, compared with Q104,000 for properties without one.

That's a revenue difference of 136%.

BNBCalc separately associates swimming pools with a 78% revenue premium and hot tubs with an 83% premium.

The gap sounds attractive, but there's an obvious complication: large luxury homes are much more likely to have pools.

AirROI's broader amenity data makes this especially clear. Properties with ping-pong tables show an even larger revenue premium of 191%, while those with sound systems show a 143% premium.

It would be absurd to assume that adding a ping-pong table automatically increases bookings by 191%.

These amenities often appear in more expensive, professionally operated homes that already attract higher-spending guests.

Only 12% of listings in AirROI's dataset have pools, making them relatively uncommon. A pool may help a property stand out, particularly for families and large groups, but the benefit needs to be measured against the construction, electricity, cleaning, and maintenance costs.

For a smaller property, good bathrooms, comfortable beds, reliable hot water, and strong photos may offer a better return on a limited renovation budget.

Is buying an Airbnb in central Antigua too expensive now?

Buying in central Antigua is now expensive enough that rental income alone can struggle to justify the purchase price.

MapaInmueble's recent listings show a median asking price of approximately $740,000 for houses across the broader Antigua market.

Within the historic center, its sample of ten listed houses has a median price of approximately $1.13 million.

That is a steep entry price for a market where even many professionally operated rentals generate only tens of thousands of dollars annually.

Three-bedroom houses across the wider market have a median asking price of approximately $475,000, while houses with four or more bedrooms reach around $965,000.

For perspective, a $500,000 property would need $25,000 in annual bookings just to generate gross rental revenue equivalent to 5% of its purchase price. At $1 million, that required revenue doubles to $50,000.

Neither calculation includes operating expenses.

Central locations may attract tourists who want to walk to Parque Central, restaurants, and historic attractions without relying on transportation. But the available data doesn't establish how much extra annual revenue that proximity generates for otherwise comparable properties.

The difficulty is that a premium purchase price only makes sense when the rental premium is equally impressive.

A historic house bought for personal enjoyment or possible long-term appreciation may still appeal to an owner. But those benefits should be evaluated separately from its Airbnb income.

Would buying an Airbnb outside central Antigua be a better idea?

Buying outside Antigua's historic center could produce a better rental yield because nearby property prices are much lower, even though Airbnb revenue is generally weaker.

AirROI's regional comparison shows average monthly revenue of approximately $1,242 per listing in Antigua Guatemala, compared with $630 in Ciudad Vieja and $590 in San Pedro Las Huertas.

So an Antigua listing brings in roughly twice as much revenue as those nearby markets.

But consider the property prices.

MapaInmueble's recent listings put median asking prices in San Pedro Las Huertas around $255,000, compared with approximately $1.13 million for houses advertised inside Antigua's historic center.

The central historic property costs more than four times as much, although these are separate samples of homes that may differ substantially in size and condition.

That makes the trade-off worth investigating.

Ciudad Vieja and San Pedro Las Huertas can appeal to groups seeking larger homes or quieter surroundings, especially if they have their own transportation. However, distance from Antigua's restaurants and main attractions can reduce convenience for short-stay guests.

We wouldn't automatically choose the cheaper location. A low purchase price offers little advantage if the property stays empty.

Still, this is where the numbers become interesting. A property earning less rental revenue can potentially deliver a higher percentage return when its purchase price falls by an even greater amount.

Airbnb market	Active listings	Monthly revenue	Nightly rate	Occupancy
Antigua Guatemala	2,005	$1,242	$138	38.6%
Ciudad Vieja	166	$630	$110	27.9%
San Pedro Las Huertas	92	$590	$129	27.8%
Guatemala City	3,376	$413	$60	33.4%

What rental yield can an Airbnb in Antigua actually generate?

Airbnb properties in Antigua appear to offer gross revenue-to-price ratios of roughly 3% to 4% in a broad comparison of current rental income and house asking prices.

We tested this using BNBCalc's annual Airbnb revenue estimates by bedroom count and MapaInmueble's median asking prices for houses with the same number of bedrooms.

For two-bedroom properties, average short-term rental revenue is approximately Q106,000, or $13,900 annually, against a median house asking price of $360,000.

That produces a gross revenue-to-price ratio of 3.9%.

The equivalent figure is approximately 3.3% for three-bedroom properties and 4.0% for houses with four or more bedrooms.

These are comparisons between different samples, not yields observed on individual properties. The listings may differ in location, quality, and availability. Asking prices also aren't necessarily final transaction prices.

Still, the exercise puts Antigua's investment economics into perspective.

Airbtics currently gives the market a C+ investability grade and places it among the lowest 20% of Central American markets for short-term rental yield.

That ranking uses Airbtics' proprietary methodology, so it shouldn't be treated as an independent valuation. But its conclusion is consistent with the weak gross ratios we calculated from separate property and rental datasets.

The problem becomes more obvious once operating costs are deducted. A property generating a 4% gross revenue ratio will deliver substantially less than 4% in actual operating income.

House size	Median asking price	Airbnb annual revenue	Gross revenue / price
2 bedrooms	$360,000	$13,900	3.9%
3 bedrooms	$475,000	$15,700	3.3%
4+ bedrooms	$965,000	$38,600	4.0%

Could renting out a house long-term earn more than Airbnb in Antigua?

Long-term renting could earn more gross income than Airbnb for many ordinary two-bedroom and three-bedroom houses in Antigua.

This is one of the more surprising findings from our comparison.

MapaInmueble's recent rental listings show a median asking rent of $1,900 per month for houses in Antigua, equivalent to $22,800 over twelve months.

For two-bedroom houses, the median is $1,400 monthly. Three-bedroom houses average around $1,900, while houses with four or more bedrooms have a median advertised rent of $2,500.

Compare those figures with BNBCalc's average annual short-term rental revenue by property size.

Two-bedroom Airbnbs generate around $13,900 annually, versus $16,800 from twelve months at the advertised long-term asking rent.

The difference becomes larger for three-bedroom properties. Airbnb revenue averages approximately $15,700, compared with an annualized long-term asking rent of $22,800.

For larger houses, the relationship reverses, with Airbnb producing higher gross revenue in the broad comparison.

There are important limitations. These are unmatched samples, and only four two-bedroom houses appeared in MapaInmueble's rental sample. Advertised monthly rents also don't establish what tenants ultimately pay or how long properties remain vacant.

Even so, the figures challenge the idea that Airbnb will automatically make more money than a conventional lease.

Long-term tenants generally mean fewer turnovers, lower cleaning costs, and less day-to-day management. For an ordinary home, those savings could make a meaningful difference.

House size	Airbnb annual revenue	Annualized long-term asking rent	Gross difference	Higher reference
2 bedrooms	$13,900	$16,800	-$2,900	Long-term
3 bedrooms	$15,700	$22,800	-$7,100	Long-term
4+ bedrooms	$38,600	$30,000	+$8,600	Airbnb

How much of an Airbnb's revenue can owners actually keep in Antigua?

An Antigua Airbnb bringing in $16,000 annually could leave only about $8,000 before taxes and major ownership expenses if the owner relies on professional management.

Let's use an illustrative budget rather than assuming every property has the same operating costs.

Airbnb's updated 2026 fee guidance describes a 15.5% host-paid service fee for most hosts, with some exceptions. Professional property management might cost another 20% of booking revenue in our example.

We then allocate 15% to cleaning, utilities, consumables, and routine maintenance.

Together, those expenses consume 50.5% of gross revenue.

At $16,000 in annual bookings, approximately $7,920 remains. On a $500,000 property, that represents just 1.6% of the purchase price.

Even a property generating $30,000 annually would leave $14,850 under these assumptions, equivalent to a 3% preliminary operating return.

These figures are illustrative. We haven't established a market-wide average management fee or operating-cost ratio for Antigua, and individual contracts could be cheaper or more expensive.

The calculation also excludes property taxes, insurance, financing, major repairs, replacement furniture, acquisition costs, and applicable income or lodging taxes.

An owner managing the property personally could retain more revenue, although that would require time and regular involvement.

Gross rental revenue can look attractive while the actual financial return remains disappointingly small.

Annual bookings	After illustrative operating costs	Return on $350K purchase	Return on $500K purchase	Return on $750K purchase
$16,000	$7,920	2.3%	1.6%	1.1%
$30,000	$14,850	4.2%	3.0%	2.0%
$50,000	$24,750	7.1%	5.0%	3.3%

Can you legally operate an Airbnb in Antigua?

Airbnb rentals can operate legally in Antigua, but owners need to check tourism registration, property-use rules, and local requirements before accepting guests.

Guatemala's tourism authority, INGUAT, maintains a formal process for registering accommodation establishments.

Its published requirements include business-registration documents, taxpayer information, identification of the owner or legal representative, guest records, and an authenticated application.

Whether an individual property falls under a particular accommodation classification depends on how the business operates. An apartment occasionally rented to tourists and a professionally managed guesthouse may have different obligations.

Antigua also has additional planning concerns because of its protected historic center.

AirROI reports that none of the 2,041 listings in its dataset displays a visible registration or permit number. Airbtics likewise finds licensing information on fewer than 1% of listings.

That tells us very little about actual compliance, since a host may be registered without displaying a number publicly.

We would check the property's permitted use with the relevant authorities and review the condominium rules before purchasing. Some residential developments may impose restrictions on guest stays even where short-term accommodation is otherwise allowed.

The fact that neighboring properties appear on Airbnb does not establish what a new owner is legally permitted to do.

What taxes do Airbnb owners have to pay in Antigua?

Airbnb owners in Antigua face several possible taxes, including Guatemala's 12% VAT, income tax, and accommodation-specific charges when the relevant rules apply.

Guatemala's standard VAT rate is 12%. Operators must determine whether their activity requires VAT registration, invoicing, and reporting through the country's tax authority, SAT.

The income-tax treatment depends on whether the rental activity is classified as business income, property-related capital income, or another applicable category.

INGUAT's accommodation framework also establishes a 10% lodging tax for qualifying establishments. Its implementing regulation describes the charge as a tax on accommodation establishments' income, with an exemption for establishments providing lodging for monthly periods or thirty consecutive days.

Antigua introduced an additional municipal lodging charge in 2022, set at Q20 per occupied room per day for up to five nights.

However, contemporary reporting by Prensa Libre established that the municipal rule specifically targeted four-star, five-star, and boutique hotels. Its application also attracted legal criticism and implementation questions.

That doesn't establish that an ordinary Airbnb owner must pay this municipal charge.

An investor also needs to consider annual property taxes and taxes associated with ownership or a future sale.

Because the applicable treatment depends on the property and business structure, we would obtain a written calculation from a local accountant covering both guest-facing charges and the owner's tax obligations.

Otherwise, it's easy to overestimate how much rental revenue actually belongs to the owner.

Can you freely renovate an old colonial house for Airbnb in Antigua?

Renovating an old house in Antigua can be complicated, especially inside the historic center, where heritage protection can limit structural changes and alterations to a property's appearance.

Antigua's UNESCO World Heritage status dates back to 1979, and the city has a dedicated conservation authority: the Consejo Nacional para la Protección de La Antigua Guatemala, or CNPAG.

The authority oversees the protection and restoration of historic properties, while municipal planning rules also apply.

For a buyer, this can affect something as simple as adding guest bathrooms, changing internal walls, modifying a facade, or converting a traditional family home into tourist accommodation.

Permissions depend on the building and proposed work. We therefore wouldn't assume that an attractive renovation plan can be carried out until the relevant authorities have reviewed it.

Older buildings also deserve careful structural inspections.

UNESCO identifies earthquakes, volcanic activity, inappropriate development, and poorly controlled alterations among the threats to Antigua's historic environment.

Guatemala is seismically active, and the nearby Fuego volcano is capable of producing eruptions and ashfall.

A property may be beautiful and commercially attractive while still requiring expensive structural work, specialist contractors, or insurance coverage with exclusions.

These costs can completely change an investment calculation, particularly when a buyer expects renovations to create additional bedrooms and increase Airbnb revenue.

What would make buying an Airbnb in Antigua a genuinely good investment?

Buying an Airbnb in Antigua can still make financial sense, but the property needs unusually strong verified earnings or a purchase price well below comparable listings.

We can put a rough number on that.

Under our earlier illustrative operating-cost assumptions, approximately 49.5% of gross booking revenue remains before taxes and major ownership expenses.

An owner wanting $25,000 annually at that stage would therefore need approximately $50,500 in gross bookings.

That's roughly three times the broad Antigua market average.

Some properties clear that threshold comfortably, especially larger homes designed for groups.

AirROI's host-level data also reveals how different operators perform. Fabio And Andrea generated approximately Q7.48 million across 25 listings, or Q299,000 per property. Kuxtal Residences generated Q6.87 million across only five listings, equivalent to Q1.37 million per property.

Despite operating far fewer listings, Kuxtal earned approximately 4.6 times as much per property.

That difference suggests property selection, positioning, size, and operating quality can matter enormously. The host-level figures don't reveal the purchase prices or net profits, so we cannot rank the two businesses by investment return.

For a prospective buyer, we'd want actual booking statements, a record of operating expenses, and comparable rental data before accepting an agent's projected revenue.

A property that can also rent successfully to long-term tenants would be particularly interesting. It gives the owner another source of income if short-term rental competition continues growing.

The strongest opportunity is likely to be an unusually well-priced or well-operated property rather than a typical house bought at the prevailing asking price.

So, are Airbnb rentals a good idea in Antigua?

Only in selected cases. For investors buying an ordinary property at today's asking prices, Antigua's Airbnb market generally looks like a weak income investment despite its strong tourism appeal.

The evidence points in the same direction once we look beyond nightly rates.

Antigua earns substantially more short-term rental revenue per listing than many other Guatemalan destinations. Larger properties can perform exceptionally well, and the city continues to attract international tourists throughout the year.

But competition has intensified, average earnings are modest relative to purchase prices, and operating expenses can absorb a large share of bookings.

Our property-size comparison puts broad gross revenue-to-price ratios around 3% to 4%. Actual returns would be lower after management, maintenance, taxes, and other costs.

More surprisingly, the available rental listings suggest that conventional long-term leases may compete with or outperform Airbnb for some ordinary two-bedroom and three-bedroom houses.

There are good reasons to own property in Antigua beyond rental income, including personal use and possible long-term capital appreciation. That appreciation shouldn't be assumed to compensate for weak rental yields, however.

A large house with strong booking records, an attractive purchase price, and controlled operating costs could still be a worthwhile investment. An average property purchased for several hundred thousand dollars and handed over to a management company is much harder to justify.

Our final judgment is that Antigua remains an attractive place to run a successful Airbnb business, but buying property there solely to earn Airbnb income is currently a much less convincing proposition.

We would only invest when the property's verified earnings make the numbers work without relying on optimistic occupancy forecasts or future appreciation.